Glacier Bancorp, Inc. (GBCI) Downgraded by Zacks Investment Research
Glacier Bancorp, Inc. (NASDAQ:GBCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Glacier Bancorp, Inc. is a bank holding company. “
Shares of Glacier Bancorp (NASDAQ:GBCI) traded up 1.27% during trading on Friday, reaching $35.08. The company’s stock had a trading volume of 240,066 shares. The stock’s 50 day moving average price is $35.85 and its 200-day moving average price is $30.09. Glacier Bancorp has a 52-week low of $21.90 and a 52-week high of $37.87. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 22.34 and a beta of 1.44.
Glacier Bancorp (NASDAQ:GBCI) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.42 by $0.02. Glacier Bancorp had a net margin of 26.97% and a return on equity of 10.77%. Equities analysts anticipate that Glacier Bancorp will post $1.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 19th. Shareholders of record on Tuesday, January 10th will be issued a $0.30 dividend. The ex-dividend date is Friday, January 6th. This represents a $1.20 annualized dividend and a dividend yield of 3.42%. This is a boost from Glacier Bancorp’s previous quarterly dividend of $0.20. Glacier Bancorp’s dividend payout ratio (DPR) is presently 50.96%.
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In related news, Director John W. Murdoch sold 2,869 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $37.43, for a total transaction of $107,386.67. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Blodnick sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $35.92, for a total value of $3,592,000.00. Following the transaction, the chief executive officer now directly owns 204,543 shares in the company, valued at $7,347,184.56. The disclosure for this sale can be found here. 1.09% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in GBCI. PineBridge Investments L.P. boosted its position in shares of Glacier Bancorp by 3.9% in the second quarter. PineBridge Investments L.P. now owns 9,660 shares of the company’s stock worth $257,000 after buying an additional 364 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Glacier Bancorp by 5.9% in the second quarter. Vanguard Group Inc. now owns 6,080,436 shares of the company’s stock worth $161,618,000 after buying an additional 340,564 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Glacier Bancorp by 2.9% in the second quarter. Principal Financial Group Inc. now owns 547,315 shares of the company’s stock worth $14,548,000 after buying an additional 15,321 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Glacier Bancorp by 19.2% in the second quarter. Prudential Financial Inc. now owns 224,641 shares of the company’s stock worth $5,971,000 after buying an additional 36,140 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Glacier Bancorp by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,539,124 shares of the company’s stock worth $67,488,000 after buying an additional 88,361 shares in the last quarter. 76.24% of the stock is currently owned by institutional investors.
Glacier Bancorp Company Profile
Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. It provides banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington through its bank subsidiary, Glacier Bank (the Bank). The Company offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.
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